ALBANY, New York -- Transparency Market Research has published a new market report titled "Nanosensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021." According to the report, the global nanosensors market was valued at US$26.9 mn in 2014 and is projected to reach US$1,500.9 mn by 2021, at a CAGR of 80.7% from 2015 to 2021.
The major factor driving the global nanosensors market is growing demand of nanosensors in military and homeland security. In addition, cost effective manufacturing due to compactness of nanosensors is set to bring about a positive transition in the nanosensors market.
North America held the largest market share globally in 2014. Growing demand for smaller and faster portable diagnostic sensing systems are the major factors driving the growth of biomedical and healthcare segment in North America. This in turn is having a positive impact on the increasing demand for nanosensors in North America. The U.S is the largest market for nanosensors in North America. Reduction in expense for therapy and diagnosis is expected to boost demand for nanosensors in the U.S.
The nanosensors market in the U.S is mainly driven by the compact size, bulk manufacturing capability, low cost and energy efficient nanosensors. The North America nanosensors market in terms of revenue is estimated to grow at a CAGR of 81.2 % during the forecast period from 2015 to 2021. In 2014, Asia Pacific was the fastest growing market for nanosensors in terms of revenue. India is the fastest growing market for nanosensors in Asia Pacific. The increasing reliability, low cost, low power consumption and compact size of nanosensors are the major factors driving the growth of nanosensors market in India.
The application of nanosensors in biomedical and healthcare sector held the largest market share in 2014 and is expected to hold the position of market leader throughout the forecast period. For medical diagnostic purposes, nanosensors are mainly used either in lab-on-a-chip type devices to detect the onset of cancer or as blood borne sensors. In the biomedical sector, nanosensors are selectivity used for the detection of biological agents and chemical species .In addition, these are also used to create fast-responding sensors with good sensitivity. This factor acts as a driving factor in the growth of biomedical and healthcare nanosensors market.
Major players operating in the nanosensors market include OMRON Corporation, Texas Instruments Inc, Oxonica, Lockheed Martin Corporation, Analog devices Inc, Honeywell International, Inc. and Samsung Electronics Co. Ltd.
The Nanosensors market has been segmented as follows:
Global Nanosensors Market by Product Type
Product types covered under this research study are:
Global Nanosensors Market by Application
•Automotive and Aerospace
•Homeland Defense and Military
•Biomedical and Healthcare
Global Nanosensors Market by Geography
•North America ◦U.S
•Asia Pacific ◦China
•Middle East and Africa
Full Research Report on Global Nanosensors Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/nanosensors-market.html
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